Definitely a shame, as THQ have provided some excellent games over the years, what was the cause of their huge losses?

100% certain, its pretty much done and is being QC'ed at this time, I'd say theres nothing that could stop it releasing. Any purchaser if they did buy the franchise or dev house at this late stage would want to release the "completed" games anyway, and would likely be legally obligated to take on liabilities (pre-orders).

THQ is not the first failed publisher and will not be the last. EA will likely try and buy the popular titles COH Saints row, Warhammer. The rest would likely not be brought by them. As in truth the last major publisher them going to EA would at least see them have some future.

As for pre orders there is no legal right as you have only paid a small deposit in most cases. Those sites that take full cash would likely refund the money, if you paid by credit card ( as you always should in online shopping would refund the cash for you as they are first in line on creditors list)

Similar if hmv went bankrupt and you had DVD pre orders if someone brought them they would not be obliged to give you anything.

Valve are a relitively tiny publisher house. They have only released a few titles in many years. Dou't they would want to buy a publisher like THQ.

The disadvantage of any buyout is the pc titles would likely be delayed till after console releases.